Save Article

China's Exim Bank Will Finance Ecuador Project

BEIJING—Ecuador's government and the Export-Import Bank of China Thursday agreed on the financing of a hydroelectric project in Ecuador in a deal that looked close to collapse just a few months ago.

In December, Ecuador President Rafael Correa described negotiating with China on the project as being "worse than [with] the IMF" and said that some of the terms of the loan demanded by Exim Bank, such as a request that Ecuador...